0:00
you want who'd like to do it. I have a feeling you're going to do it. So you guys go ahead and
0:05
then we'll take questions right after that. But I think you'll get a pretty good understanding of
0:08
how big it is. It's a very large deal. Very big deal. And Howard, go ahead
0:14
So the UK is the sixth largest economy in the world and the fourth largest that we export to
0:22
Right. So it's a huge market, a top 10 market. If you remember Liberation Day
0:28
they were at 10% because we have balanced trade with the UK, right? They say they have a surplus
0:35
but of course that counts gold bullion, which is, so let's just call it balanced trade. So how do
0:40
you open up a market in balanced trade? People think it's impossible. They've always thought
0:45
it was impossible until President Trump came on the scene and changed the way things work
0:50
So here's what we've got. We've opened up new market access, ethanol, beef, machinery
0:57
all the agricultural products. They've agreed to open their markets and that will add $5 billion of opportunity to American exporters
1:07
So the question is why would they do that now because they never done it before and we still have a 10 tariff on which will produce billion of revenue for the United States So the idea was how did they keep their jobs protect
1:22
their economy and do the best for their people while opening the market for us. And the way is
1:28
they studied it, their team was exceptional and they tried to figure out the markets that they're
1:33
importing from other people and try to send them over to America. So why were they
1:38
Why were they always favoring others and not us? And what they've done is they've found the ways to do that so that we have new access
1:47
Right. But the UK workers are protected. And that was the balance. So you've got we did a deal with them in automobiles
1:55
And, you know, if you're not building here, we charge you a 25 percent tariff
2:00
But the president and by the way, I want to make this clear while Jameson and I worked hard
2:04
This was the president's deal. And people think, oh, that's not the way it works
2:08
If you got to sit next to him, I have the best dealmaker to my left
2:13
And if you don't think that we take advantage of him calling the prime minister and getting that deal done
2:18
you don't understand who's the president of the United States. So he's the closer
2:23
He gets deals done that we could never get done because he understands business He understands deals And that why we here today So he agreed they could send 100 cars into America and only pay a 10 tariff
2:39
And that protects their car industry. And remember, we do 16 million cars a year
2:45
So this is only like 0.6%. But for the UK auto people, this is tens of thousands of jobs
2:52
that the president agreed that he would protect for them. So he made that deal. Right. Then steel
2:59
and aluminum. Right. Their steel business has been destroyed like everybody else has been destroyed
3:03
by people dumping steel into their markets. And British Steel had announced it was closing down
3:10
So the British government, as part of this deal, nationalized British steel. And they're going to
3:16
match the kinds of models we do. They'll put tariffs on, they'll put quotas on. They want to
3:21
do it with America so they can be part of the resurgence of steel and aluminum in America
3:27
And that saves them, again, thousands and thousands of jobs. So if you go step by step
3:33
aero and commercial planes, they sell Rolls Royce engines to Boeing. We've agreed to let
3:41
Rolls Royce engines and those kind of plane parts to come over tariff free And what you going to hear today is there going to be an announcement in the UK that they are buying billion worth of Boeing planes later today
3:55
But I'm going to let the name of the airline announce it because that's theirs to do it
4:00
Part of this deal was always to do it together and to do it strong
4:05
And you can see the numbers on this board. Everything about this board works exceptionally well for the United States of America
4:11
It lays out the plan that you can work with us in autos. You can work with us with aero and commercial
4:17
You can work with us in pharmaceuticals if you have a supply chain that is secure and protected in national security
4:24
So we feel really good about the deal. You've heard the prime minister. He feels really good about the deal
4:29
Right. And we started 10 percent and we ended at 10 percent. And the market for America is better
4:36
and this is a perfect example of why Donald Trump produced Liberation Day
4:41
People don't understand he gets things done in a matter of time
4:46
This would have taken Jameson and I three years, maybe, and instead we got it done in 45 days, certainly, because we work for Donald Trump
4:56
So Jameson, my partner in all this, maybe Jameson, you'd like to talk a little, and then we'll turn it over to the UK
